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U.S. Infusion Pump Market Further Influenced by COVID-19 as BD Loses Dominant Revenue Share Position
By: iData Research
iData's analysts utilized primary data from 1000s of reporting hospitals and ambulatory surgery centers (ASCs) to gather accurate data and sales information for the updated reports. After combining this with rigorous primary research, ongoing for over a decade, a cross-verified and highly accurate depiction of the market was developed.
Throughout the analysis on the U.S. infusion pump market, eight companies were analyzed within five market segments including electronic ambulatory pumps, PCA pumps, syringe pumps, large volume pumps, and others. The insights obtained from the updated U.S. infusion pump market analysis generated interesting results. Overall, the revenue and units sold were already decreasing before COVID-19 hit. The global pandemic wreaked havoc on many markets and further influenced the decline within the U.S. infusion pump market. All of the individual market segments were similarly declining, however, the electronic ambulatory pump market was increasing and continued to increase even after COVID-19 headwinds.
"Because of the decline in the market prior to COVID-19, the companies were already facing conflict," says Dr. Kamran Zamanian, Senior Partner and CEO of iData Research, "Some companies were able to advance their market positions, and take advantage of the situation while others fell behind."
BD, in the first quarter of 2019, was the most dominant competitor in terms of revenue share within the U.S. infusion pump market. As the year progressed, BD began to lose revenue share as some of the other competition, such as Baxter, gained shares. By the time 2020 hit, it was evident that BD was unable to maintain its dominant market stance due to multiple products recalls for the company's Alaris system, and, by the fourth quarter of the year, the company fell below Baxter. Between the fourth quarter of 2019 and 2020, BD's revenue share decreased significantly while all the other companies, excluding Moog, increased their shares.
For a full overview of the U.S. infusion pump market, follow the link below and view the MedSKU solution in detail: